Aberdeen Asset Management PLC

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(1)Keeping investment straightforward. Aberdeen Asset Management PLC. WorldReginfo - bf218b1c-f90a-4ce6-a26d-7e61dd424af9. Interim Report and Accounts 2014.

(2) Highlights Dividend per share 6.75p. Underlying diluted EPS1 14.3p 17.5. 10.0. Interim. 5.2 3.8 2011. 7.1 4.4 2012. 6.0 2013. 2014. Final. Interim. Operating margin 43.0%. 34.8. 2010. 7.2 6.1 2010. 6.75. 39.5. 2011. 40.6. 2012. 9.8 8.9 2011. 12.2 10.4 2012. 14.9 2013. 2014. Final. Assets under management £324.5 billion 45.4. 2013. 324.5. 43.0. 2014. 178.7. 169.9. 187.2. 200.4. 2010. 2011. 2012. 2013. Net revenue. Statutory pre-tax profit. £503.5m. £168.7m. March 2013: £516.0m. March 2013: £188.2m. Underlying pre-tax profit1. Dividend per share. £217.0m. 6.75p +12.5%. March 2013: £222.8m. March 2013: 6.0p. 1. 14.3. Underlying figures are stated before amortisation of intangibles and acquisition costs. 2014. WorldReginfo - bf218b1c-f90a-4ce6-a26d-7e61dd424af9. 3.8 3.2 2010.

(3) Our focus, your advantage. Contents Overview. Aberdeen Asset Management is a global asset manager and a FTSE 100 company. We are based in 26 countries with 33 offices and over 2,500 staff.. Chairman’s statement. Highlights3. Our responsibilities. Our business is predominantly the active management of financial assets using first-hand research to make our investment decisions. We only manage assets for third parties, not our own balance sheet, which helps avoid conflicts of interest. We take a long-term view of our investment strategies. We dislike unnecessary obscurity and complexity and so our investment processes strive to be simple and clear. That means we also aim to seek out investments that display those qualities too. We deliver our investment expertise in the form of segregated and pooled products.. At Aberdeen, there are some things in which we strongly believe. We are committed to delivering exceptional results for our clients and making Aberdeen a rewarding place to work. In everything we do, we are guided by our core principles of integrity, quality, teamwork, ambition and the willingness to challenge received wisdom and established ideas.. Our focus is on serving our customers well, and by doing so, delivering good returns to our shareholders. As a pure asset manager, without the distractions of other financial services activities, we are able to concentrate all our resources on our core business, which we believe is key to our performance.. Our active investment teams and client service support staff are located in or near the territories in which we invest and where our clients are based. We nurture collegiate investment teams working within clearly-defined parameters to ensure continuity of performance.. The Aberdeen group has grown rapidly in the last 30 years. Even as a global company, we value a flat management structure and look to be an open, diverse and accessible employer. For our clients, we aim to be transparent and approachable, delivering the highest standards of client service. In our relationships with each other, as colleagues and partners, we champion local decision-making, close-knit teams and interdependence across offices worldwide.. Our corporate responsibility microsite may be found at aberdeen-asset.com/csr.. Interim report online This report is available in digital format. Please visit the investor relations section of our website: aberdeen-asset.com/investorrelations Aberdeen Asset Management PLC Interim Report and Accounts 2014. Condensed consolidated balance sheet. 10. Condensed consolidated statement of changes in equity. 11. Condensed consolidated cash flow statement. 12. Notes to the condensed consolidated financial statements. 13. Principal risks. 21. Responsibility statement. 22. Independent review report to Aberdeen Asset Management PLC. 23. Appendix Assets under management and new business flows. 24. Corporate information. We do our utmost to provide the best possible working conditions for our employees, to protect the environment and to manage our business in a fair and ethical manner. And we believe in being down-to-earth, saying clearly what we mean and inviting others to do the same. Making Aberdeen a better place to work is a pivotal part of our corporate responsibility strategy. Our reputation and our people are our most valuable assets – we do all we can to invest in both.. We have a broad shareholder base and are free from the management ties of a larger parent company structure. Our clients include banks, national and corporate pension funds, sovereign wealth funds plus other investment institutions plus intermediaries managing money for private investors.. 4. 8. Condensed consolidated statement of comprehensive income 9. Principal offices. 29. Corporate information. 31. WorldReginfo - bf218b1c-f90a-4ce6-a26d-7e61dd424af9. Our culture. Condensed consolidated income statement. aberdeen-asset.com5. Corporate information. What we do. Financial statements. Financial statements. We invest in equities, fixed income securities and property, sharing a common framework. These capabilities are complemented by our skills and insights in quantitative equities and alternatives. The Aberdeen solutions team can blend our abilities across different asset classes to provide highly tailored investment outcomes to meet specific client needs.. 6. Overview. Who we are.

(4) Chairman’s statement. Roger Cornick Chairman The first half of this financial year was characterised by exacting conditions in emerging markets, with weaker investment sentiment impacting our equity new business flows. Nevertheless, we have enjoyed further encouraging demand for certain of our fixed income and property strategies and have continued to make progress in developing our diversified pipeline of new business which will be added to assets under management (“AuM”) in the coming months. We completed the major element of the acquisition of Scottish Widows Investment Partnership (“SWIP”) on 31 March 2014, and the purchase of the SWIP infrastructure business completed on 1 May 2014. Considerable corporate energy, in addition to the specific transition-related costs, was invested during the period in bringing this acquisition to a successful conclusion, while the benefits to profitability will not begin to accrue until the beginning of the second half of the financial year. This transaction adds new and complementary strategies to our product range, and enhances the Group’s position as a leading global asset manager. We aim to build on and deepen the strategic relationship with Lloyds Banking Group as well as marketing our additional capabilities to our worldwide client base. Total AuM at 31 March 2014 were £324.5 billion; excluding the £134.1 billion added by SWIP, Aberdeen’s AuM fell 5% to £190.4 billion (30 September 2013: £200.4 billion).. Financials Profit before taxation for the period was £168.7 million (2013: £188.2 million). Underlying profit, stated before amortisation of intangible assets and exceptional costs in respect of the SWIP acquisition, was £217.0 million, compared to £222.8 million in 2013. This represents underlying earnings per share, on a diluted basis, of 14.32p (2013:14.88p). The Board has decided to pay an interim dividend of 6.75p per share, an increase of 12.5% on the interim dividend announced last year which will be paid on 19 June 2014 to qualifying shareholders on the register at 16 May 2014. This increase is in line with the Board’s objective to pay a growing dividend each year.. 6. Aberdeen Asset Management PLC Interim Report and Accounts 2014. Net revenue for the period decreased by 2% to £503.5 million (2013: £516.0 million). Recurring fee income was little changed at £491.1 million (2013: £492.5 million), while performance fees contributed £12.4 million (2013: £23.5 million). The blended average management fee rate remained steady at 50.0 basis points (year to September 2013: 50.0 basis points). Operating costs of £286.9 million fell by 1% compared to the equivalent period last year, and were 4% lower than for the second half of our last financial year, and we have been proactive in identifying and implementing further cost savings over and above the synergies expected from the SWIP transaction. The Group’s operating margin for the period was 43.0% (2013: 43.8%). We generated £221.6 million of core operating cashflow (2013: £221.2 million), representing a conversion rate of underlying operating profit of 102% (2013: 98%), and ended the period with a cash position of £410.4 million. As we stated when we announced the transaction, the addition of SWIP will reinforce Aberdeen’s progressive dividend policy and, while we will incur some one-off integration costs over the next year, it will enhance our ability to return surplus capital to shareholders over time.. Review of operations Assets under management increased to £324.5 billion, of which the SWIP transaction added £134.1 billion. The principal changes in total AuM are shown in the following table, and a fuller analysis by asset class is included at the end of the interim results statement.. AuM at 30 September 2013 Net new business flows for the period Market movements & performance Exchange movements SWIP acquisition AuM at 31 March 2014. £bn 200.4 (8.8) 3.3 (4.5) 190.4 134.1 324.5. Investment performance across our fixed income strategies is generally ahead of the relevant benchmarks for both short and longer term time periods and our property performance remains robust. Performance of our key equity products has been running behind benchmark on a one year basis, but we have continued to focus on our bottom up, fundamental style of investing for the longer term in good quality companies at attractive valuations, and we have seen healthy outperformance in March and April. It is inevitable that our style will lead to periods of shorter term underperformance, but we believe our longer term performance track record remains compelling and we do not plan to make any significant changes to our equity process. Our distribution is focused on multiple business and distribution channels with teams operating on-the-ground in 26 countries and covering a further 34 remotely. We continue to see strong growth in North America, continental Europe and selective markets in Asia. Our focus is on providing our existing clients with a high level of service and to market our wider range of products outwith our well known strengths in Asia Pacific, emerging markets and global equities. As reflected in the flow figures, EMD, high yield and European property are areas which are attracting interest.. SWIP completion and integration The major part of the SWIP transaction was completed on 31 March 2014, for purchase consideration comprising 108.5 million new ordinary shares, a further 17.3 million shares to be issued once Lloyds have received certain regulatory consents and a deferred top-up payment of £39.4 million which is payable on 31 March 2015. A further 5.9 million shares were issued to Lloyds on completion of the acquisition of the SWIP infrastructure business. We have an excellent track record of integrating businesses with a clear global operating model. The respective teams of Aberdeen and SWIP have worked together over the last few months to create and refine the detailed integration plans across all areas of the business, and the implementation process has begun, and I am pleased to welcome our new colleagues to the Group.. As we highlighted in our announcement of the transaction in November, SWIP brings some further diversification to the enlarged Group’s product range, and our Aberdeen solutions business will be enhanced by the integration of SWIP’s quantitative investments, investment solutions and alternatives capabilities. We have also decided to include money market assets as a component of the enlarged Group’s fixed income business. This re-alignment is consistent with our strategy of growing our non-equity businesses over time. Our enhanced solutions capability, encompassing new quantitative investment strategies, stronger fixed income team and broader alternatives offering, mean we have a comprehensive suite of products to meet the needs of investors around the world.. Outlook Whilst the six month period under review has been demanding, the completion of the SWIP transaction creates an exceptional platform to ensure the continuity of high quality client service which will enable further organic growth. Towards the end of the period, there were indications of some pick-up in investor sentiment towards emerging markets, although we anticipate that some uncertainty could remain. More recently, an encouraging improvement in investment performance should improve the outlook for our equities strategies and we are confident that the added scale and breadth of the enlarged Group’s capabilities, combined with our long-term investment focus, provide a solid base from which to pursue further profitable growth for our investors.. R C Cornick Chairman 2 May 2014. WorldReginfo - bf218b1c-f90a-4ce6-a26d-7e61dd424af9. Inflows were subdued for the first five months although we then saw some improvement during March as we began to convert the pipeline of new mandates awarded by a range of clients. Against the backdrop of weak investor sentiment, we encountered net outflows from our main equity products, but we enjoyed healthy net inflows to our property, emerging market debt and high yield bond products.. Aberdeen’s traditional approach has been to build relationships with key clients at all levels. Together with the existing SWIP teams we have already started to develop further relationships with Lloyds Banking Group and its Wealth, Insurance and Retail businesses.. Overview. Gross new business inflows for the period totalled £14.3 billion (2013: £24.6 billion) and outflows amounted to £23.1 billion (2013: £20.2 billion), resulting in a net outflow for the six month period of £8.8 billion (2013: net inflow £4.4 billion).. aberdeen-asset.com7.

(5) Aberdeen Asset Management PLC Interim Report and Accounts 2014. 8 8. 6. 5. (48.3) 5.2 (43.1). –. 0.2 217.0 (37.0) 180.0. (48.3) (48.3) –. (286.9) 216.6 0.2. 10.98p 10.67p. 125.9 8.1 2.9 136.9. 168.7 (31.8) 136.9. 0.2. (335.2) 168.3 0.2. (33.0) (15.3). (33.0) (15.3). – –. 9. (34.6) – (34.6) (34.6) – – (34.6) 5.2 (29.4). – – (289.9) 226.1 (3.9) 0.6 222.8 (40.1) 182.7. 6 months to 31 March 2013 Before amortisation Amortisation and acquisition and acquisition costs costs £m £m 628.6 – (112.6) – 516.0 – (289.9) –. 12.81p 12.43p. 145.7 7.6 – 153.3. 188.2 (34.9) 153.3. 0.6. (324.5) 191.5 (3.9). (34.6) –. Total £m 628.6 (112.6) 516.0 (289.9). Items that may be reclassified subsequently to profit or loss Translation of foreign currency net investments Available for sale assets: – (losses) gains during the period – losses recycled from equity to the income statement Tax on items that may be recycled to profit or loss. Other comprehensive (expense) income, net of tax Total comprehensive income for the period Attributable to: Equity shareholders of the Company Other equity holders Non-controlling interests. 482.7 (79.1) 403.6. (3.0). (589.3) 489.2 (3.5). – –. (681.7) 396.8 (3.5) (3.0) 390.3 (61.5) 328.8. (92.4) (92.4) – – (92.4) 17.6 (74.8). 27.10p 26.17p. 307.7 20.5 0.6 328.8. (73.2) (19.2). (73.2) (19.2). Year to 30 September 2013 Before amortisation Amortisation and acquisition and acquisition costs costs Total £m £m £m 1,314.8 – 1,314.8 (236.3) – (236.3) 1,078.5 – 1,078.5 (589.3) – (589.3). 6 months to 31 March 2013 £m 153.3 Year to 30 September 2013 £m 328.8. – – – – (9.6) 2.1. – – (7.5). (17.6) 31.1 (11.3). (0.6) – – (18.2) 0.2 2.0 (0.8) 32.5 – 3.3 0.3 (7.7). (18.2) 118.7 32.5 185.8 (15.2) 313.6. 107.7 8.1 2.9 178.2 7.6 – 291.6 20.5 1.5. aberdeen-asset.com9. WorldReginfo - bf218b1c-f90a-4ce6-a26d-7e61dd424af9. Earnings per share Basic Diluted. Profit before taxation Tax expense Profit for the period Attributable to: Equity shareholders of the Company Other equity holders Non-controlling interests. Operating expenses Operating profit Net finance revenue (costs) Gains (losses) on investments. Gross revenue Commissions payable Net revenue Operating costs Amortisation of intangible assets Acquisition costs. Total £m 592.7 (89.2) 503.5 (286.9). 6 months to 31 March 2014 Before amortisation Amortisation and acquisition and acquisition costs costs £m £m Notes 592.7 – (89.2) – 3 503.5 – (286.9) –. For the six months to 31 March 2014. Condensed consolidated income statement. Profit for the period Items that will not be reclassified subsequently to profit or loss Net actuarial loss on defined benefit pension schemes Tax on net actuarial loss on defined benefit pension schemes 6 months to 31 March 2014 £m 136.9. Financial statements. 8. Condensed consolidated statement of comprehensive income. For the six months to 31 March 2014.

(6) Condensed consolidated statement of changes in equity. 31 March 2014. Notes. 10. Aberdeen Asset Management PLC Interim Report and Accounts 2014. 10 11 15. 12 11. 13. 14 14. 9 15. 12 9. 31 March 2013 £m. 30 September 2013 £m. 1,595.5 22.0 56.0 25.5 9.7 2.9 1,711.6. 973.3 19.0 54.4 16.1 12.9 3.9 1,079.6. 1,029.1 19.7 54.5 23.4 9.7 2.8 1,139.2. 2,455.6 418.2 136.7 410.4 3,420.9 5,132.5. 2,660.7 342.6 118.6 638.9 3,760.8 4,840.4. 2,516.6 297.4 107.8 426.6 3,348.4 4,487.6. 130.8 1,311.6 215.2 (128.1) 1,529.5 68.2 – 321.6 1,919.3. 119.8 898.2 235.3 (85.1) 1,168.2 12.8 198.1 321.9 1,701.0. 119.9 898.5 165.8 (49.1) 1,135.1 47.3 – 321.6 1,504.0. 50.7 6.3 10.5 5.4 116.3 189.2. – – 26.7 11.6 32.4 70.7. – 6.5 14.1 5.4 45.0 71.0. 2,455.6 437.4 39.4 29.4 62.2 3,024.0 3,213.2 5,132.5. 2,660.7 353.0 – – 55.0 3,068.7 3,139.4 4,840.4. 2,516.6 315.4 – 27.5 53.1 2,912.6 2,983.6 4,487.6. Share For the six months to capital 31 March 2014 £m Balance at 1 October 2013 119.9 Profit for the period – Other comprehensive expense – Total comprehensive (expense) income – Arising on the issue of shares 10.9 Deferred shares on acquisition – Share-based payments – Purchase of own shares – Dividends paid to shareholders – Unwinding of put option – Non-controlling interest in consolidated funds – At 31 March 2014 130.8. Share premium account £m 898.5 – – – 413.1 – – – – – – 1,311.6. Other reserves £m 165.8 – (18.2) (18.2) – 67.6 – – – – – 215.2. Non Retained controlling earnings interest £m £m (49.1) 47.3 125.9 2.9 – – 125.9 2.9 – – – – 18.8 – (107.4) – (114.6) – (1.7) _ – 18.0 (128.1) 68.2. Perpetual capital securities £m 321.6 8.1 – 8.1 – – – – (8.1) _ – 321.6. Total equity £m 1,504.0 136.9 (18.2) 118.7 424.0 67.6 18.8 (107.4) (122.7) (1.7) 18.0 1,919.3. Share For the six months to capital 31 March 2013 £m Balance at 1 October 2012 115.1 Profit for the period – Other comprehensive income – Total comprehensive income – Conversion of convertible bonds 4.7 Issue of perpetual capital notes – Share-based payments – Purchase of own shares – Dividends paid to shareholders – Non-controlling interest in consolidated funds – At 31 March 2013 119.8. Share premium account £m 815.9 – – – 82.3 – – – – – 898.2. Other reserves £m 209.0 – 32.5 32.5 (6.2) – – – – – 235.3. Non Retained controlling interest earnings £m £m (51.6) 14.0 145.7 – – – 145.7 – 6.2 – – – 20.6 – (123.8) – (82.2) – – (1.2) (85.1) 12.8. Perpetual capital securities £m 198.1 7.6 – 7.6 – 321.9 – – (7.6) – 520.0. Total equity £m 1,300.5 153.3 32.5 185.8 87.0 321.9 20.6 (123.8) (89.8) (1.2) 1,701.0. Share For the year to capital 30 September 2013 £m Balance at 1 October 2012 115.1 Profit for the period – Other comprehensive (expense) income – Total comprehensive (expense) income – Arising on the issue of shares 0.1 Conversion of convertible bonds 4.7 Net issuance of perpetual capital notes – Share-based payments – Purchase of own shares – Dividends paid to shareholders – Acquisition of non-controlling interest – Non-controlling interest in consolidated funds – At 30 September 2013 119.9. Share premium account £m 815.9 – – – 0.3 82.3 – – – – – – 898.5. Other reserves £m 209.0 – (9.5) (9.5) – (6.2) – – – – (27.5) – 165.8. Non Retained controlling interest earnings £m £m (51.6) 14.0 307.7 0.6 (6.6) 0.9 301.1 1.5 – – 6.2 – (66.0) – 50.9 – (138.9) – (150.8) – – 27.5 – 4.3 (49.1) 47.3. Perpetual capital securities £m 198.1 20.5 – 20.5 – – 123.5 – – (20.5) – – 321.6. Total equity £m 1,300.5 328.8 (15.2) 313.6 0.4 87.0 57.5 50.9 (138.9) (171.3) – 4.3 1,504.0. Financial statements. Assets Non-current assets Intangible assets Property, plant & equipment Other investments Deferred tax assets Pension surplus Trade and other receivables Total non-current assets Current assets Assets backing investment contract liabilities Trade and other receivables Other investments Cash and cash equivalents Total current assets Total assets Equity Called up share capital Share premium account Other reserves Retained loss Total equity attributable to shareholders of the parent Non-controlling interest 7.9% Perpetual capital securities 7.0% Perpetual cumulative capital notes Total equity Liabilities Non-current liabilities Deferred consideration Other liabilities Pension deficit Provisions Deferred tax liabilities Total non-current liabilities Current liabilities Investment contract liabilities Trade and other payables Deferred consideration Other liabilities Current tax payable Total current liabilities Total liabilities Total equity and liabilities. 31 March 2014 £m. WorldReginfo - bf218b1c-f90a-4ce6-a26d-7e61dd424af9. Condensed consolidated balance sheet. aberdeen-asset.com11.

(7) Condensed consolidated cash flow statement. Notes to the condensed consolidated financial statements. For the six months to 31 March 2014. 1 General information. 4. (0.8) 220.8 0.2 (29.6) 191.4 (5.6) 185.8. Year to 30 September 2013 £m 529.1. 26.5 247.7 0.9 (21.8) 226.8 – 226.8. 1.5 530.6 1.3 (47.3) 484.6 (11.7) 472.9. 10.7 (22.7) 63.6 (1.8) (6.2) 43.6. 9.3 (63.9) – (4.1) (2.6) (61.3). 37.6 (68.4) (83.9) (8.2) (7.0) (129.9). 0.4 (107.4) – – (125.1) (232.1) (2.7) 426.6. – (123.8) 321.9 – (92.1) 106.0 271.5 347.9. 0.5 (138.9) 321.6 (264.1) (177.3) (258.2) 84.8 347.9. (13.5) 410.4. 19.5 638.9. (6.1) 426.6. The interim results have not been audited but have been reviewed by the auditor. The condensed comparative figures for the financial year to 30 September 2013 are not the company’s statutory accounts for that financial year. Those accounts have been reported on by the company’s auditor and delivered to the Registrar of Companies. The auditor’s report was unqualified and did not contain a statement under section 498 of the Companies Act 2006.. 2 Accounting policies Basis of preparation These condensed financial statements have been prepared in accordance with IAS 34 Interim Financial Reporting as adopted by the EU. The annual financial statements are prepared in accordance with IFRS as adopted by the EU. As required by the Disclosure and Transparency Rules of the Financial Conduct Authority, the condensed financial statements have been prepared applying the accounting policies and presentation that were applied in the preparation of the Group’s published consolidated financial statements for the year ended 30 September 2013. The preparation of interim financial statements requires management to make estimates and assumptions that affect the reported income and expense, assets and liabilities and disclosure of contingencies at the date of the interim financial statements. Although these estimates and assumptions are based on management’s best judgement at the date of the interim financial statements, actual results may differ from these estimates. The interim financial statements, which are in a condensed format, do not include all the information and disclosures required in the Group’s annual report, and should be read in conjunction with the Group’s annual report for the year ended 30 September 2013. Going concern The directors are satisfied that the Group has sufficient resources to continue in operation for the foreseeable future, a period of not less than twelve months from the date of this report. Accordingly, it is appropriate to adopt the going concern basis in preparing the condensed financial statements. Segmental disclosures The Group operates a single business segment of asset management for reporting and control purposes. IFRS 8 Operating Segments requires disclosures to reflect the information which the Group Management Board (GMB), being the body that is the Group’s chief operating decision maker, uses for evaluating performance and the allocation of resources. The Group is managed as a single asset management business, with multiple investment strategies of equities, fixed income and property, complemented by a solutions business which provides multi asset and fund of alternatives services. These strategies are managed across a range of products, distribution channels and geographic regions. Reporting provided to the GMB is on an aggregated basis.. 3 Revenue. Revenue comprises: Gross management fees Commissions payable to intermediaries Net management fees Performance fees Transaction fees Net revenue. 12. Aberdeen Asset Management PLC Interim Report and Accounts 2014. Financial statements. Core cash generated from operating activities Short-term timing differences on open end fund settlements Cash generated from operations Net interest received Tax paid Net cash generated from operations Acquisition costs paid Net cash generated from operating activities Cash flows from investing activities Proceeds from sale of investments Purchase of investments Acquisition of businesses, net of cash acquired Purchase of intangible assets Purchase of property, plant & equipment Net cash from (used in) investing activities Cash flows from financing activities Issue of ordinary shares Purchase of own shares Issue of 7.0% perpetual cumulative capital notes Repayment of 7.9% perpetual capital securities Dividends paid and coupon payments Net cash (used in) from financing activities Net (decrease) increase in cash and cash equivalents Cash and cash equivalents at beginning of period Effect of exchange rate fluctuations on cash and cash equivalents Cash and cash equivalents at end of period. 6 months to 31 March 2013 £m 221.2. 6 months to 31 March 2014 £m. 6 months to 31 March 2013 £m. Year to 30 September 2013 £m. 574.7 (89.2) 485.5 12.4 5.6 503.5. 598.8 (112.6) 486.2 23.5 6.3 516.0. 1,250.4 (236.3) 1,014.1 50.8 13.6 1,078.5. WorldReginfo - bf218b1c-f90a-4ce6-a26d-7e61dd424af9. Notes. 6 months to 31 March 2014 £m 221.6. aberdeen-asset.com13.

(8) Notes to the condensed consolidated financial statements continued. 6 Tax expense 6 months to 31 March 2014 £m. Increase in provisions Decrease (increase) in trade and other receivables (Increase) decrease in open end fund receivables (Decrease) increase in trade and other payables Increase (decrease) in open end fund payables Net cash inflow from operating activities Net interest received Income tax paid Net cash generated from operating activities. 136.9 3.8 33.0 1.0 – (0.2) 18.8 (0.2) 31.8 224.9 – 26.5 (17.1) (35.3) 16.2 215.2 0.2 (29.6) 185.8. 153.3 3.3 34.6 – – (0.6) 20.6 3.9 34.9 250.0 5.7 (39.4) (49.1) 4.9 75.6 247.7 0.9 (21.8) 226.8. Year to 30 September 2013 £m 328.8 6.6 73.2 – 3.5 3.0 45.9 3.5 61.5 526.0 0.8 (37.1) 12.5 27.7 (11.0) 518.9 1.3 (47.3) 472.9. 5 Net finance revenue. Interest on overdrafts, revolving credit facilities and other interest bearing accounts Interest on 3.5% convertible bonds Release of discount on liability component of convertible bonds Amortisation of issue costs on convertible bonds Total finance costs Finance revenue - interest income Net finance (revenue) costs. 6 months to 31 March 2014 £m. 6 months to 31 March 2013 £m. Year to 30 September 2013 £m. 1.6 –. 1.8 (0.9). 3.6 (0.9). – – 1.6 (1.8) (0.2). 4.0 1.1 6.0 (2.1) 3.9. 4.0 1.1 7.8 (4.3) 3.5. Current tax expense Adjustments in respect of previous periods. 6 months to 31 March 2014 £m 36.8 –. 6 months to 31 March 2013 £m 40.1 –. Year to 30 September 2013 £m 77.1 (2.2). Deferred tax credit Adjustments in respect of previous periods Total tax expense in income statement. (6.3) 1.3 31.8. (7.0) 1.8 34.9. (13.4) – 61.5. The tax charge for the six month period ended 31 March 2014 is calculated using the expected effective annual tax rate in each country of operation and applying these rates to the results of each country for the first six months of the year. This also takes account of acquisitions made during the period (note 9).. 7 Dividends and coupon payments. Coupon payments on perpetual capital securities 7.0% Perpetual cumulative capital notes 7.9% Perpetual capital notes Coupon payments made during the period Ordinary dividends Declared and paid during the year Final dividend for 2013 – 10.0p (2012 - final dividend 7.1p ) Interim dividend for 2013 – 6.0p Total dividends and coupon payments paid during the period. 6 months to 31 March 2014 £m. 6 months to 31 March 2013 £m. Year to 30 September 2013 £m. 10.5. –. 11.4. – 10.5. 9.9 9.9. 15.1 26.5. 114.6 – 114.6 125.1. 82.2 – 82.2 92.1. 82.2 68.6 150.8 177.3. The interim ordinary dividend of 6.75p per share will be paid on 19 June 2014 to qualifying shareholders on the register at 16 May 2014. 8 Earnings per share The calculations of earnings per share are based on the following profits and numbers of shares. Basic earnings per share amounts are calculated by dividing net profit for the period attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period.. Diluted earnings per share amounts are calculated by dividing the net profit for the period attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period plus the weighted average number of ordinary shares that would be issued on the conversion of all the potentially dilutive shares into ordinary shares. Underlying earnings per share figures are calculated by adjusting the profit to exclude amortisation of intangible assets. The purpose of providing the underlying earnings per share is to allow readers of the accounts to clearly consider trends without the impact of certain non-cash items.. 14. Aberdeen Asset Management PLC Interim Report and Accounts 2014. Financial statements. Reconciliation of profit after tax to operating cash flow Profit after tax Depreciation Amortisation of intangible assets Other losses Loss on disposal of property, plant and equipment (Gains) losses on investments Equity settled share-based element of remuneration Net finance (revenue) costs Income tax expense. 6 months to 31 March 2013 £m. WorldReginfo - bf218b1c-f90a-4ce6-a26d-7e61dd424af9. 4 Analysis of cash flows. aberdeen-asset.com15.

(9) Notes to the condensed consolidated financial statements continued. 8 Earnings per share (continued). 9 Acquisition. 6 months to 31 March 2014 £m. 6 months to 31 March 2014 £m. Underlying 6 months to Year to 31 March 30 September 2013 2013 £m £m. The acquisition of SWIP adds scale to the business across a range of asset classes, strengthens investment capabilities and adds new distribution channels in addition to the strategic relationship with Lloyds. 153.3. 328.2. 134.0. 153.3. 328.2. (8.1). (7.6). (18.8). (8.1). (7.6). (18.8). 125.9. 145.7. 309.4. 125.9. 145.7. 309.4. 28.8. 29.4. 57.2. 14.3. –. 17.6. 169.0. 175.1. 384.2. 1,145.9 14.75p. 1,137.1 15.40p. 1,141.5 33.66p. 1,145.9 10.98p. 1,137.1 12.81p. 1,141.5 27.10p. Weighted average number of shares (millions) For basic earnings per share Dilutive effect of 2014 convertible bonds Dilutive effect of LTIP awards Dilutive effect of exercisable share options and deferred shares Diluted earnings per share. 16. 125.9. 145.7. 309.4. 169.0. 175.1. 384.2. –. 3.2. 3.2. –. 3.2. 3.2. 125.9. 148.9. 312.6. 169.0. 178.3. 387.4. 1,145.9. 1,137.1. 1,141.5. 1,145.9. 1,137.1. 1,141.5. – –. 12.5 0.1. 6.2 0.1. – –. 12.5 0.1. 6.2 0.1. 34.2 1,180.1 10.67p. 48.1 1,197.8 12.43p. 46.7 1,194.5 26.17p. 34.2 1,180.1 14.32p. 48.1 1,197.8 14.88p. 46.7 1,194.5 32.43p. Aberdeen Asset Management PLC Interim Report and Accounts 2014. The consideration will be satisfied by issuing 125.85 million shares, of which 108.5 million were issued on completion and the remaining 17.3 million shares will be issued on the earlier of (i) the first anniversary of completion and (ii) receipt by Lloyds of certain regulatory approvals and consents. The remaining 17.3 million shares have been recognised within equity as a deferred share issue. A further 5.95 million shares were issued on completion of the acquisition of SWIP’s infrastructure fund management business on 1 May 2014 (note 17). In accordance with the sale and purchase agreement, a deferred top-up payment of £39.4 million has been recognised as a deferred liability. The deferred top up is determined by the difference between the weighted average actual share price 5 days before acquisition date and a floor of 420p, the difference multiplied by the consideration shares. The Group is entitled, at its sole option, to settle this in cash or issue further shares up to one year from the date of acquisition. As the acquisition completed on the 31 March 2014, SWIP did not contribute to the results of the Group. However, if the acquisition had occurred on 1 October 2013, we estimate that consolidated revenues would have been increased by £117 million, and consolidated profit before taxation for the period would have been increased by £48 million. In determining these amounts, we have assumed that the fair value adjustments that arose on the acquisition date would have been the same if the acquisition had occurred on 1 October 2013. Acquisition-related costs of £15.3 million were incurred and have been included in exceptional costs. In addition, there is a performance-related five year earn-out payment of up to £100 million in cash dependent on growth delivered by the investment solutions business through the strategic relationship with Lloyds. The Group has agreed to pay a maximum additional £100 million to the selling shareholders over the next 5 years if the annual revenue for the investment solutions business exceeds a benchmark. The Group has included £50.7 million as contingent consideration related to the earn-out, which represents its fair value at acquisition date. This value is determined based on a probability weighted expected return analysis of cash flow assumptions and is relating to expected performance and growth of the investment solutions business over 5 years, discounted to a present value. The undiscounted fair values identified in this analysis range from £41.7 million to £100 million. b. Acquisition costs The following exceptional acquisition costs were incurred in relation to the acquisition described above.. Redundancy and other severance costs Transaction and deal costs Lease termination costs Other costs. 6 months to 31 March 2014 £m 2.0 9.2 – 4.1 15.3. Year to 30 September 2013 £m 10.8 3.5 3.9 1.0 19.2. Acquisition costs in 2013 relate to the purchase of Artio Global Investors Inc., a US listed asset manager, and the acquisition of 50.1% of SVG Managers, a fund of private equity specialist. There were no acquisition costs in the 6 months to 31 March 2013.. WorldReginfo - bf218b1c-f90a-4ce6-a26d-7e61dd424af9. 134.0. Diluted earnings per share Profit for calculation of basic earnings per share, as above Add: interest on 2014 convertible bonds, net of attributable taxation Profit for calculation of diluted earnings per share. a. On 31 March 2014, the Group completed the purchase of Scottish Widows Investment Partnership Group Limited (“SWIP”) and SWIP’s related private equity businesses for a consideration of £581.3 million, satisfied by the issue of 125.85 million new Aberdeen shares to Lloyds Banking Group plc (“Lloyds”) at a share price of 390.3p, plus a deferred top-up payment of £39.4 million payable at the end of the 12 month period following completion and an estimate of £50.7 million in respect of the earn-out on the investment solutions business.. Financial statements. Basic earnings per share Profit attributable to shareholders Coupon payments in respect of perpetual capital securities (net of tax) Profit for the financial period, attributable to ordinary shareholders Amortisation of intangible assets, net of attributable taxation Acquisition costs, net of attributable taxation Underlying profit for the financial period Weighted average number of shares (millions) Basic earnings per share. IAS 33 6 months to Year to 31 March 30 September 2013 2013 £m £m. aberdeen-asset.com17.

(10) Notes to the condensed consolidated financial statements continued. 10 Intangible assets. c. Independent valuation specialists were engaged to carry out a valuation of the acquired goodwill and intangible assets. The fair value adjustments have been measured provisionally pending completion of the independent valuation. Goodwill is mainly attributable to the skills of the workforce acquired and the synergies expected to be achieved from the acquisition. None of the goodwill is expected to be deductible for income tax purposes. The provisional fair value of the intangible assets has been based on the present value of expected cash flows of the underlying management contracts, with the exception of a provisional value of £7 million for internally developed software. The provisional fair value for the internally developed software has been based on management’s best estimate of replacement cost. The provisional amounts recognised in respect of the identifiable assets acquired and liabilities assumed are as set out in the table below.. Intangible assets Goodwill. Other investments Cash Trade & other payables Current tax payable Deferred tax liabilities Total net assets acquired Goodwill. At date of acquisition £m. Provisional fair value adjustments £m. Provisional fair value £m. –. 378.4. 378.4. 1.6. –. 1.6. 145.1. –. 145.1. 0.5. –. 0.5. 65.9. –. 65.9. (152.6). 2.1. (150.5). (5.5). –. (5.5). –. (75.7). (75.7). 55.0. 304.8. 359.8 221.5 581.3. Discharged by: Equity. 491.2. Deferred top-up payment (current liabilities). 39.4. Fair value of the earn-out payment (non-current liabilities). 50.7. Total consideration. 581.3. Due to the proximity of the acquisition to the interim date the above balances reflect provisional values estimated by the Group at 31 March 2014. Adjustments to finalise the fair values of assets and liabilities acquired will be made in the Group consolidated financial statements for the year ended 30 September 2014. If information obtained within one year of the acquisition dates about facts and circumstances that existed at acquisition date identifies adjustments to the above amounts, or any additional provisions that existed at acquisition date, then the accounting for the acquisition will be revised.. 18. Aberdeen Asset Management PLC Interim Report and Accounts 2014. 31 March 2014 £m. 31 March 2013 £m. 30 September 2013 £m. Non-current assets Non-current investments. 56.0. 54.4. 54.5. Current assets Seed capital investments Investments of life and pensions subsidiary Investments in funds to hedge deferred bonus liabilities Listed equities – held for trading. 98.2 12.6 25.9 – 136.7. 81.5 10.0 27.1 – 118.6. 69.6 12.2 25.7 0.3 107.8. Seed capital investments comprise amounts invested in funds when the intention is to dispose of these as soon as practicably possible.. 12 Assets backing investment contract liabilities These balances represent unit linked business carried out by the Group’s life assurance and pooled pensions subsidiary. The risks and rewards of these assets fall to the benefit of or are borne by the underlying policyholders. Therefore, the investment contract liabilities shown in the Group’s balance sheet are equal and opposite in value to the assets held on behalf of the policyholders. The Group has no direct exposure to fluctuations in the value of assets which are held on behalf of policyholders, nor to fluctuations in the value of the assets arising from changes in market prices or credit default. The Group’s exposure to these assets is limited to the revenue earned, which varies according to movements in the value of the assets.. 13 Share capital During the period a total of 621,500 ordinary shares of 10p each were issued in respect of the exercise of share options granted to employees under the 1994 Executive Share Option Scheme. On 31 March 2014 108,537,009 ordinary shares of 10p each were issued in respect of the acquisition of Scottish Widows Investment Partnership Group Limited as described in note 9. The acquisition completed on 31 March 2014 and the allotment of the shares was approved by the Board. Due to timing, the shares were not admitted until after trading opened on 1 April 2014.. 14 Perpetual capital securities On 1 March 2013 the Company issued US$500 million perpetual cumulative capital notes. The securities bear interest on their principal amount at 7.0% per annum, payable quarterly in arrears on 1 March, 1 June, 1 September and 1 December in each year commencing on 1 June 2013. Net proceeds after deduction of issue expenses were £321.6 million.. WorldReginfo - bf218b1c-f90a-4ce6-a26d-7e61dd424af9. Trade & other receivables. 30 September 2013 £m 338.9 690.2 1,029.1 Financial statements. Deferred tax assets. 31 March 2013 £m 314.5 658.8 973.3. 11 Other investments. Business acquired from Lloyds Banking Group plc. Intangible assets. 31 March 2014 £m 686.3 909.2 1,595.5. aberdeen-asset.com19.

(11) Principal risks 15 Retirement benefits The Group’s principal form of pension provision is by way of three defined contribution schemes operated worldwide. The Group also operates a number of legacy defined benefit schemes. There are three schemes in the UK which are closed to new membership and to future service accrual, two schemes in Japan and schemes in Germany, Norway and Finland. The actuarial valuations of the defined benefit pension schemes referred to above were updated to 30 September 2013 by the respective independent actuaries. Contributions to the schemes since 30 September 2013 have been set off against the scheme deficits. 31 March 2013 £m 12.9 (26.7) (13.8). 30 September 2013 £m 9.7 (14.1) (4.4). 16 Contingent liabilities The Group may, from time to time, be subject to claims, actions or proceedings in the normal course of its business. When such circumstances arise, the Board considers the likelihood of a material outflow of economic resources and provides for its best estimate of costs where an outflow of economic resources is probable. While there can be no assurances, the directors believe, based on information currently available to them, that the likelihood of other material outflows is remote.. The management of risk is embedded in the culture of the business and in the way in which the Group carries out its business. The Risk Management Committee together with the Risk, Compliance, and Internal Audit departments are responsible for overseeing the implementation of the Group’s risk strategies and this involves the provision of regular reports to the Group Board.. Financial statements. Surplus in scheme at end of period Deficits in schemes at end of period. 31 March 2014 £m 9.7 (10.5) (0.8). In common with many businesses, the Group is exposed to a range of risks. Some of these risks are an inherent part of the business conducted by the Group such as taking investment decisions on behalf of clients and our energies are focussed on managing this risk as opposed to eliminating it. On the other hand there is regulatory risk which we actively seek to avoid.. The principal risks to which the Group will be exposed in the second half of the financial year are substantially the same as those described on pages 43 to 45 of the 2013 annual report, with the addition of the integration of the SWIP business. The other risks include investment process, investment mandate, loss of investment personnel, legal and regulatory, client, product distribution, business continuity, external service providers, credit, liquidity and foreign currency risks.. 17 Post balance sheet events On 1 May 2014, the Group completed the purchase of SWIP’s infrastructure fund management business for a consideration of £26.4 million, satisfied by the issue of 5.95 million new Aberdeen shares to Lloyds at a price of 443.4p. The acquired business will add approximately £5 million of net assets to the combined business.. 20. Aberdeen Asset Management PLC Interim Report and Accounts 2014. WorldReginfo - bf218b1c-f90a-4ce6-a26d-7e61dd424af9. Due to the timing of this transaction, any adjustments to the fair values of assets and liabilities will be finalised during the second half of the financial year and disclosed in in the Group consolidated financial statements for the year ended 30 September 2014. There will be certain intangible assets included in the provisional goodwill value of £21.4 million that cannot be individually separated and reliably measured until completion of the valuation by independent valuation specialists.. aberdeen-asset.com21.

(12) Independent review report to Aberdeen Asset Management PLC. We confirm that to the best of our knowledge:. Introduction. Scope of review. • the condensed set of financial statements have been prepared in accordance with IAS 34 Interim Financial Reporting as adopted by the EU.. We have been engaged by the company to review the condensed set of financial statements in the half-yearly financial report for the six months ended 31 March 2014 which comprises the condensed consolidated income statement, the condensed consolidated statement of comprehensive income, the condensed consolidated balance sheet, the condensed consolidated statement of changes in equity, the condensed consolidated cash flow statement and the related explanatory notes. We have read the other information contained in the half-yearly financial report and considered whether it contains any apparent misstatements or material inconsistencies with the information in the condensed set of financial statements.. We conducted our review in accordance with International Standard on Review Engagements (UK and Ireland) 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity issued by the Auditing Practices Board for use in the UK. A review of interim financial information consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing (UK and Ireland) and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.. • the interim management report includes a fair review of the information required by: (a) DTR 4.2.7R of the Disclosure and Transparency Rules, being an indication of important events that have occurred during the first six months of the current financial year and their impact on the condensed set of financial statements; and a description of the principal risks and uncertainties for the remaining six months of the year; and (b) DTR 4.2.8R of the Disclosure and Transparency Rules, being related party transactions that have taken place in the first six months of the current financial year and that have materially affected the financial position or performance of the entity during that period; and any changes in the related party transactions described in the last annual report that could do so. For and on behalf of the board. This report is made solely to the company in accordance with the terms of our engagement to assist the company in meeting the requirements of the Disclosure and Transparency Rules (“the DTR”) of the UK’s Financial Conduct Authority (“the UK FCA”). Our review has been undertaken so that we might state to the company those matters we are required to state to it in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company for our review work, for this report, or for the conclusions we have reached.. Financial statements. Responsibility statement. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the condensed set of financial statements in the half-yearly financial report for the six months ended 31 March 2014 is not prepared, in all material respects, in accordance with IAS 34 as adopted by the EU and the DTR of the UK FCA.. Directors’ responsibilities. 2 May 2014. As disclosed in note 2, the annual financial statements of the Group are prepared in accordance with IFRSs as adopted by the EU. The condensed set of financial statements included in this half-yearly financial report has been prepared in accordance with IAS 34 Interim Financial Reporting as adopted by the EU.. Our responsibility Our responsibility is to express to the company a conclusion on the condensed set of financial statements in the half-yearly financial report based on our review.. 22. Aberdeen Asset Management PLC Interim Report and Accounts 2014. Catherine Burnet for and on behalf of KPMG Audit Plc Chartered Accountants 37 Albyn Place Aberdeen AB10 1JB 2 May 2014. WorldReginfo - bf218b1c-f90a-4ce6-a26d-7e61dd424af9. Scott E Massie Secretary 10 Queen’s Terrace Aberdeen AB10 1YG. The half-yearly financial report is the responsibility of, and has been approved by, the directors. The directors are responsible for preparing the half-yearly financial report in accordance with the DTR of the UK FCA.. aberdeen-asset.com23.

(13) Appendix - Assets under management and new business flows Assets under management at 31 March 2014. Overall new business flows for 6 months to 31 March 2014 – By mandate type. Segregated mandates Pooled funds. AuM at 30 September 2013 Net new business flows for the period Market appreciation & performance Exchange movements Reclassification AuM added by SWIP transaction AuM at 31 March 2014. Equities Fixed income £bn £bn 113.8 36.8 (8.1) (0.1) 1.9 0.9 (3.2) (0.8) 104.4 36.8 – 5.1 3.5 56.2 107.9 98.1. Money market £bn 6.0 (0.8) – (0.1) 5.1 (5.1) – –. Aberdeen solutions £bn 28.8 (0.7) 0.5 (0.2) 28.4 – 66.1 94.5. 31 March 2014 £bn 107.9 98.1 94.5 24.0 324.5 131.8 192.7 324.5. Property £bn 15.0 0.9 – (0.2) 15.7 – 8.3 24.0. Total £bn 200.4 (8.8) 3.3 (4.5) 190.4 – 134.1 324.5. 6 months to 31 March 2014 £m. 2,684 4,122 6,806. 3,897 3,576 7,473. 6,581 7,698 14,279. 4,293 6,969 11,262. 2,702 9,078 11,780. 6,995 16,047 23,042. (1,609) (2,847) (4,456). 1,195 (5,502) (4,307). (414) (8,349) (8,763). 3 months to 31 December 2013 £m. 3 months to 31 March 2014 £m. 6 months to 31 March 2014 £m. 3,519 2,180 303 804 6,806. 2,742 3,139 945 647 7,473. 6,261 5,319 1,248 1,451 14,279. 6,625 3,352 963 322 11,262. 7,767 2,813 959 241 11,780. 14,392 6,165 1,922 563 23,042. (3,106) (1,172) (660) 482 (4,456). (5,025) 326 (14) 406 (4,307). (8,131) (846) (674) 888 (8,763). Outflows: Segregated mandates Pooled funds. Net flows: Segregated mandates Pooled funds. Overall new business flows for 6 months to 31 March 2014 – By asset class. Gross inflows: Equities Fixed income Aberdeen solutions Property. Net flows: Equities Fixed income Aberdeen solutions Property. Aberdeen Asset Management PLC Interim Report and Accounts 2014. 3 months to 31 March 2014 £m. Gross inflows: Segregated mandates Pooled funds. Outflows: Equities Fixed income Aberdeen solutions Property. 24. 3 months to 31 December 2013 £m. WorldReginfo - bf218b1c-f90a-4ce6-a26d-7e61dd424af9. Equities Fixed income Aberdeen solutions Property. 31 December 2013 £bn 108.9 40.9 28.5 15.3 193.6 100.7 92.9 193.6. Financial statements. 30 September 2013 £bn 113.8 42.8 28.8 15.0 200.4 102.6 97.8 200.4. aberdeen-asset.com25.

(14) Appendix - Assets under management and new business flows continued. New business flows for 6 months to 31 March 2014 – Equities. US. Net flows: Asia Pacific Global emerging markets Europe Global & EAFE UK US. 3 months to 31 March 2014 £m. 6 months to 31 March 2014 £m. 1,519 1,193 26 669 57 55 3,519. 1,391 822 30 393 72 34 2,742. 2,910 2,015 56 1,062 129 89 6,261. 2,144 2,375 46 1,900 46. 2,972 3,262 44 1,330 56. 5,116 5,637 90 3,230 102. 114 6,625. 103 7,767. 217 14,392. (625) (1,182) (20) (1,231) 11 (59) (3,106). (1,581) (2,440) (14) (937) 16 (69) (5,025). (2,206) (3,622) (34) (2,168) 27 (128) (8,131). Gross inflows: Asia Pacific Australia Convertibles Emerging markets Europe Global High yield UK US Money market. Outflows: Asia Pacific Australia Convertibles Emerging markets Europe Global High yield UK US Money market. Net flows: Asia Pacific Australia Convertibles Emerging markets Europe Global High yield UK US Money market. 26. Aberdeen Asset Management PLC Interim Report and Accounts 2014. 3 months to 31 December 2013 £m. 3 months to 31 March 2014 £m. 6 months to 31 March 2014 £m. 41 296 41 518 39 76 286 49 85 749 2,180. 21 142 56 1,198 36 74 359 324 99 830 3,139. 62 438 97 1,716 75 150 645 373 184 1,579 5,319. 112 448 43 396 42 205 206 225 389 1,286 3,352. 85 366 19 456 69 35 267 269 176 1,071 2,813. 197 814 62 852 111 240 473 494 565 2,357 6,165. (71) (152) (2) 122 (3) (129) 80 (176) (304) (537) (1,172). (64) (224) 37 742 (33) 39 92 55 (77) (241) 326. (135) (376) 35 864 (36) (90) 172 (121) (381) (778) (846). WorldReginfo - bf218b1c-f90a-4ce6-a26d-7e61dd424af9. Outflows: Asia Pacific Global emerging markets Europe Global & EAFE UK. 3 months to 31 December 2013 £m. Financial statements. Gross inflows: Asia Pacific Global emerging markets Europe Global & EAFE UK US. New business flows for 6 months to 31 March 2014 – Fixed income. aberdeen-asset.com27.

(15) Appendix - Assets under management and new business flows continued. Principal offices. AuM at 31 March 2014. United Kingdom and Channel Islands. Asia Pacific. Aberdeen Asset Management PLC 10 Queen’s Terrace, Aberdeen AB10 1YG Tel: +44 (0) 1224 631999 Fax: +44 (0) 1224 647010. Aberdeen Asset Management Company Limited Bangkok City Tower, 28th Floor, 179 South Sathorn Road, Thungmahamek, Sathorn, Bangkok 10120, Thailand Tel: +66 2 352 3333 Fax: +66 2 352 3339. Aberdeen solutions Quantitative investments Investment solutions Alternatives. Property. 28. Aberdeen Asset Management PLC Interim Report and Accounts 2014. Enlarged Group £bn. 34.3 32.8 1.1 30.5 3.8 1.9 104.4. – – – 2.2 1.3 – 3.5. 34.3 32.8 1.1 32.7 5.1 1.9 107.9. 2.5 6.1 0.4 6.9 2.2 1.9 3.6 5.9 7.3 5.1 41.9. – – – – 0.2 2.5 2.3 33.7 – 17.5 56.2. 2.5 6.1 0.4 6.9 2.4 4.4 5.9 39.6 7.3 22.6 98.1. 7.4 12.9 8.1 28.4. 54.6 8.5 3.0 66.1. 62.0 21.4 11.1 94.5. 15.7 190.4. 8.3 134.1. 24.0 324.5. Aberdeen Asset Managers Limited 40 Princes Street, Edinburgh EH2 2BY Tel: +44 (0) 131 528 4000 Fax: +44 (0) 131 528 4400 Aberdeen Asset Managers Limited Bow Bells House, 1 Bread Street, London EC4M 9HH Tel: +44 (0) 20 7463 6000 Fax: +44 (0) 20 7463 6001 Aberdeen Private Wealth Management Limited 1st Floor, Sir Walter Raleigh House, 48-50 Esplanade, St. Helier, Jersey JE2 3QB Tel: +44 (0) 1534 758 847 Fax: +44 (0) 1534 705 052. Aberdeen International Fund Managers Limited Rooms 2603-2606, 26/F Alexandra House, 18 Chater Road, Central, Hong Kong Tel: +852 2103 4700 Fax: +852 2103 4788 Aberdeen Asset Management Sdn Bhd Suite 26.3 Level 26, Menara IMC, Letter Box No. 66, No. 8 Jalan Sultan Ismail, 50250 Kuala Lumpur, Malaysia Tel: +60 3 2053 3800 Fax: +60 3 2031 1868 Aberdeen Asset Management Asia Limited 21 Church Street, #01-01 Capital Square Two, Singapore 049480 Tel: +65 6395 2700 Fax: +65 6535 7159 Aberdeen Asset Management Limited Level 6, 201 Kent Street, Sydney, NSW 2000, Australia Tel: +61 2 9950 2888 Fax: +61 2 9950 2800. Corporate information. Fixed income Asia Australia Convertibles Emerging markets Europe Global High yield UK US Money market. SWIP £bn. Aberdeen International Securities Investment Consulting Company Limited Exchange Square No. 2 8F, No.101 Songren Road Taipei City, Taiwan (R.O.C.) 11073 Tel: +886 2 8722 4500 Fax: +886 2 8722 4501 Aberdeen Investment Management K. K. Toranomon Seiwa Building 11F, 1-2-3 Toranomon, Minato-ku, Tokyo, 105-0001 Japan Tel: +81 3 4578 2211 Fax: +81 3 4578 2299. WorldReginfo - bf218b1c-f90a-4ce6-a26d-7e61dd424af9. Active equities Asia Pacific Emerging markets Europe Global & EAFE UK US. Aberdeen £bn. aberdeen-asset.com29.

(16) Corporate information. Principal offices continued. Aberdeen Asset Managers Limited WTC, A-Tower, 3rd Floor, Strawinskylaan 303 PO Box 79074, 1070 NC Amsterdam, The Netherlands Tel: +31 20 6870 500 Fax: +31 20 6844 291. Aberdeen Asset Management Norway AS Henrik Ibsens gt. 100 0230 Oslo, Norway Tel: +47 22 01 27 00 Fax: +47 22 01 27 01. Aberdeen Asset Management Hungary Alapkezelõ Zrt. 6th Floor, B torony, Váci út 1-3, 1062 Budapest, Hungary Tel: +36 1 413 2950 Fax: +36 1 413 2980. Aberdeen Asset Managers Limited C/Bárbara de Braganza 2, 3°B Madrid 28004, Spain Tel: +34 91 310 39 81 Fax: +34 91 524 01 39. Aberdeen Asset Management Deutschland AG Bettinastraße 53-55, D-60325 Frankfurt, Germany Tel: +49 69 768 0720 Fax: +49 69 768 072 499. Aberdeen Asset Managers Limited Via Dante 16, 6th Floor, 20121 Milan, Italy Tel: +39 028821081 Fax: +39 0288210811. Aberdeen Global Services S.A. 2b, rue Albert Borschette, L- 1246 Luxembourg Tel: +352 2 643 3000 Fax: +352 2 643 3097. Americas. Aberdeen Asset Management France SA Washington Plaza, 29 Rue de Berri, 75408, Paris Cedex 08, France Tel: +33 1 7309 0300 Fax: +33 1 7309 0328. Aberdeen Asset Managers Switzerland AG Schweizergasse 14, 8001 Zürich, Switzerland Tel: +41 44 208 2626 Fax: +41 44 208 2680 Aberdeen Asset Management Denmark A/S Strandvejen 58, 2nd floor, DK-2900 Hellerup, Denmark Tel: +45 33 44 40 00 Fax: +45 33 44 40 01 Aberdeen Asset Management Finland Oy Kaivokatu 6, FIN-00100 Helsinki, Finland Tel: +358 103 040 100 Fax: +358 103 040 900. Auditor. Scott E Massie. KPMG Audit Plc Chartered Accountants 37 Albyn Place Aberdeen AB10 1JB. Registered Office 10 Queen’s Terrace Aberdeen AB10 1YG. Registered Number 82015. Registrar. Aberdeen do Brasil Gestão de Recursos Ltda. Av. São Gabriel, 477 - 4º andar - Jardim Paulista São Paulo, Brazil, SP 01435-001 Tel: +55 11 3956 1104 Aberdeen Asset Management Inc. 161 Bay Street, 44th Floor TD Canada Trust Tower Toronto, Ontario Canada M5J 2S1 Tel: +416 777 5570 Fax: +866 290 9322 Aberdeen Asset Management Inc. 712 Fifth Avenue, 49th Floor New York, NY 10019 USA Tel: +1 212 776 1170 Fax: +1 212 776 1171. Financial Calendar Payment of interim dividend 19 June 2014 Announcement of annual results 1 December 2014 Annual General Meeting January 2015. Aberdeen Asset Management PLC Interim Report and Accounts 2014. J.P.Morgan Cazenove 25 Bank Street Canary Wharf London E14 5JP. Equiniti Limited Aspect House Spencer Road Lancing West Sussex BN99 6DA. Details of other office locations can be found on the Group’s website at aberdeen-asset.com. 30. Stockbrokers. Corporate information. Aberdeen Asset Management AB Sveavagen 25, 111 34 Stockholm, Sweden Tel: +46 (0) 412 80 00 Fax: +46 (0) 412 86 00. Aberdeen Asset Management Inc. 1735 Market Street, 32nd Floor Philadelphia, PA 19103 USA Tel: +1 215 405 5700 Fax: +1 215 405 5780. Company Secretary. WorldReginfo - bf218b1c-f90a-4ce6-a26d-7e61dd424af9. Continental Europe. aberdeen-asset.com31.

(17) Aberdeen Asset Management PLC 10 Queen's Terrace, Aberdeen AB10 1YG Telephone: +44 (0)1224 631999 Fax: +44 (0)1224 647010 aberdeen-asset.com 121005922. WorldReginfo - bf218b1c-f90a-4ce6-a26d-7e61dd424af9. Aberdeen Asset Management PLC Interim Report and Accounts 2014.

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